Time Warner Cable Q2 Profit Rises; Ups 2013 Free Cash Flow View - Quick Facts

(RTTNews) - Time Warner Cable Inc. (TWC) posted higher second-quarter 2013 net income attributable to shareholders of $481 million, or $1.64 per share, compared with $452 million, or $1.43 per share, last year.

On an adjusted basis, net income attributable to TWC shareholders stood at $497 million, or $1.69 per share in the recent period. On average, 30 analysts polled by Thomson Reuters expected earnings per share of $1.65 for the quarter. Analysts' estimates typically exclude one-time items.

The firm clocked revenue of $5.55 billion for the quarter, up 2.7% from $5.4 billion a year earlier, while it missed consensus estimates of $5.58 billion. The revenue growth was chiefly driven by a 21.8% rise in business services revenue and 12.5% in residential high-speed data revenue.

In addition, the company raised its full-year expectations for free cash flow to around $2.5 billion.